Test Review

Question 1

Under the Clean Air Act of 1970, states were required to…

Answer 1

Restrict public’s use of cars

Question 2

The fiscal year goes from

Answer 2

October 1st to September 30th

Question 3

The amount the government spends in excess of what it takes in each year is the:

Answer 3

Deficit

Question 4

The executive agency in charge of preparing the president’s annual economic report to congress

Answer 4

Council of Economic Advisors

Question 5

Welfare policies in which nearly everyone benefits and nearly everyone pays are characterized as:

Answer 5

Majoritarian Politics

Question 6

Economic theory that in order for the government to increase demand, it should pump more money into the economy by spending

Answer 6

Keynesian Politics

Question 7

In America, when compared to most European democracies, _____ play(s) a large role in running welfare programs

Answer 7

States

Question 8

The Social Security Act became law in ____

Answer 8

1935

Question 9

What is not a means tested program

Answer 9

Medicare

Question 10

Medicaid different from Medicare in that is provides

Answer 10

Medical assistance to the general public

Question 11

Only a few people benefit and a few pay

Answer 11

Interest-Group Politics

Question 12

All or most people benefit and all or most paw

Answer 12

Majoritarian Politics

Question 13

1 notable difference between the passage of Medicare (1965) and the Patient Protection and Affordable Care Act (2010) was…

Answer 13

The lack of bipartisan support for the 2010 Act

Question 14

A means tested social program is limited to people of certain

Answer 14

Income Levels

Question 15

According to this economic theory, cutting taxes will increase people’s incentive to work, save, and invest

Answer 15

Supply-Side Economics

Question 16

Welfare policies which a relatively few number of people benefit but almost everyone pays are characterized by:

Answer 16

Client Politics

Question 17

The Gramm-Rudman Act was passed by Congress to

Answer 17

Eliminate deficit spending

Question 18

Extends Health Care insurance to some 32 million uninsured americans

Answer 18

Patient Protection and Affordable Care Act of 2010

Question 19

Imposes a “tax” penalty on people who do not but health insurance

Answer 19

Patient Protection and Affordable Care Act of 2010

Question 20

Provides federal subsides to people who are having trouble paying

Answer 20

Patient Protection and Affordable Care Act of 2010

Question 21

Dependent children under age 26 are covered by parent’s insurance

Answer 21

Patient Protection and Affordable Care Act of 2010

Question 22

The total value of all nation’s goods and services produced in each year

Answer 22

Gross Domestic Products

Question 23

Consumer and Environmental Protection laws are considered what type of politices

Answer 23

Entrepreneurial

Question 24

The federal organization in primarily responsible for monetary policy

Answer 24

Fed

Question 25

Milton Friedman believed that inflation occurs

Answer 25

When too much money chases too few goods

Question 26

Welfare politics in which relatively few number of people benefit but almost everyone pays

Answer 26

Client Politics